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Cable Update (GBPUSD)

  • #263,241
  • Nov 4, 2010 5:45am Nov 4, 2010 5:45am
Quoting Dayboy001
FXCM MT4 as it was in line with UK time, however it is still on BST which is a bit annoying.

Hoping it will change at some point, maybe this weekend, anyone got any ideas?
in my view there should be a 30 to 40 pips drop
  • #263,242
  • Nov 4, 2010 5:45am Nov 4, 2010 5:45am
Quoting wormboy
check 1 - forex.com is wrong
check 2 - dollar continues to tank, monthly ltl is breached.
check 3 - cable @1.62

ladies & gentlemen elvis has left the building.
Wormie what is the difference between USDX and USDLFX ???

You only taught me index's...

What is this USDX

Thanks n Sorry for dumb question bro.
Anyone can answer.
  • #263,243
  • Nov 4, 2010 5:56am Nov 4, 2010 5:56am
Quoting honeybhi
Wormie what is the difference between USDX and USDLFX ???

You only taught me index's...

What is this USDX

Thanks n Sorry for dumb question bro.
Anyone can answer.
USDX is the industry standard method of measuring the performance of the dollar against a basket of currencies, the value of which is calculated as follows:

USDX = 50.14348112 × EUR/USD^(-0.576) × USD/JPY^(0.136) × GBP/USD^(-0.119) × USD/CAD^(0.091) × USD/SEK^(0.042) × USD/CHF^(0.036)

USDLFX is a basket developed by Lite Forex. This index can certainly be of some use in determining sentiment towards the greenback. However, I am not sure of the methodology employed by Lite Forex to calculate this index, as it is something I never use.

Overall, the USDX is definitely the one to watch, as it is the definitive benchmark and the technicals derived from this are closely followed by many significant market players.
  • #263,244
  • Nov 4, 2010 6:05am Nov 4, 2010 6:05am
Quoting Dayboy001
I am not very good at drawing trend lines, but are we faultering at this one?

Attachment
I did not play this live, however I did paper trade and I would now be out at +40

Did anyone else take it ?

It's better to be out and right then in and wrong !!
  • #263,245
  • Nov 4, 2010 6:11am Nov 4, 2010 6:11am
Quoting gammase1
USDX is the industry standard method of measuring the performance of the dollar against a basket of currencies, the value of which is calculated as follows:

USDX = 50.14348112 × EUR/USD^(-0.576) × USD/JPY^(0.136) × GBP/USD^(-0.119) × USD/CAD^(0.091) × USD/SEK^(0.042) × USD/CHF^(0.036)

USDLFX is a basket developed by Lite Forex....
Thanks bro for the detailed explanation.

Now where can i get USDX chart ??

The liteforex index charts have stopped working and the forex charts are working fine in it.I have this problem from today .Anyone else having the same problem??
  • #263,246
  • Nov 4, 2010 6:15am Nov 4, 2010 6:15am
Quoting honeybhi
Thanks bro for the detailed explanation.

Now where can i get USDX chart ??

The liteforex index charts have stopped working and the forex charts are working fine in it.I have this problem from today .Anyone else having the same problem??
I use this for live:

http://www.forexpros.com/quotes/us-d...advanced-chart

and use Alpari UK Metatrader for Graphs (this I believe is delayed 30mins)
  • #263,247
  • Nov 4, 2010 6:19am Nov 4, 2010 6:19am
load the longs
Attached Image (click to enlarge)
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  • #263,248
  • Nov 4, 2010 6:22am Nov 4, 2010 6:22am
Quoting chazzle
load the longs
Careful ATM GBP news coming in 40 mins. Probably get a better price after.
Today's zone = Tomorrow's opportunity!
  • #263,249
  • Nov 4, 2010 6:24am Nov 4, 2010 6:24am
Quoting wormboy
First you were asking people for help, now you want me to read this? Really mate, I'm not the one needing help on how to trade properly.
I'm gonna tell you this one last time. What you're doing is wrong. Just because someone has an opinion of the dollar turning next week after all those news does not mean you should listen & keep your bad trades. I'll also say this again even if there are people who don't like it. You are only allowing your trade to drown because you're trading from a completely meaningless account size. If you are trading really...
Great post and thought awakening from wormboy causes me to repeat here what I just posted over in Malcolm's VSA thread, with a daily chart instead of H4 - this is especially relevant given QE2 and the initial equity/fx market reaction.

... picking the GU turning point is like driving blind, since you're up against the USD Titanic ... I wonder how much a GBPUSD chart is psychologically influencing us: check USDGBP - remarkably similar to USDJPY isn't it? Not much difference there all of a sudden between Japan and the UK, is there - in fact, based on that premise, you'd almost foreshadow a steeper rise for sterling, no? Bring up the daily version of USDGBP and the yen 15-year high makes GBPUSD of 1.7 in Jul 2009 look like it'll be here any day. Just trying to help with level headed thinking all 'round.

(Didn't realize wormboy's original post was Oct 30 - and called for GU of 1.62 - what a great prediction!)

(In case you want to use this chart/indi, attach it to the pair timeframe chart you wish to display in reverse, then go to Open->Offline & in this case look for USDGBP D1. Enjoy.)
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-11-04_072203.png Size: 21 KB
Attached File(s)
File Type: mq4 ReverseSymbol.mq4   3 KB | 354 downloads
  • #263,250
  • Nov 4, 2010 6:27am Nov 4, 2010 6:27am
Quoting honeybhi
Next up maybe 1.6262 area,careful.

Trading gj atm ,Will watch gu for sometime .

Good luck bro.
i m out with +33 pips bro
  • #263,251
  • Nov 4, 2010 6:31am Nov 4, 2010 6:31am
Quoting wormboy
check 2 - dollar continues to tank, monthly ltl is breached.
.
which month was the breach?

October or November?
Mind over matter..I don't mind and you don't matter.
  • #263,252
  • Nov 4, 2010 6:42am Nov 4, 2010 6:42am
Just back for 1/2hr for Boe/Mpc.....Sell off pullback from Monthly R1 pivot area saw various patterns of bearish divergence 1min to 4hr...the pairing finding some demand now at the base of the previous 1hr/4hr swing hi zone coexistant with 61.8% of the intraday move up from 6100 pullback and 38.2% of the move up from 6031

Boe/Mpc coming up at 12noon Uk time.

G/L

http://www.easy-upload.net/fichiers/z.201011412409.gif
ex member
  • #263,253
  • Nov 4, 2010 6:45am Nov 4, 2010 6:45am

if Official Bank Rate = 0.75% then GBP/USD go Up



if Asset Purchase Facility <= 225B then GBP/USD go Down



  • #263,254
  • Nov 4, 2010 6:50am Nov 4, 2010 6:50am
Re post above....Both those scenarios remain the lesser probability but not impossible, although even less probable that both would occur together....the market reaction you outline is certainly the conventional response, but anything can happen.

G/L
ex member
  • #263,255
  • Nov 4, 2010 6:51am Nov 4, 2010 6:51am
Quoting chazzle
load the longs
candy from a baby,anyone?...before the news is even out
Attached Image (click to enlarge)
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  • #263,256
  • Nov 4, 2010 6:53am Nov 4, 2010 6:53am
Quoting chazzle
candy from a baby,anyone?...before the news is even out
1min led the way with the 15min hidden divergence supporting...flat now going into data

G/L
Attached Image(s) (click to enlarge)
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ex member
  • #263,257
  • Nov 4, 2010 6:54am Nov 4, 2010 6:54am
Quoting chazzle
candy from a baby,anyone?...before the news is even out
Did you get your pips?
Enter Signature
  • #263,258
  • Nov 4, 2010 6:54am Nov 4, 2010 6:54am
Quoting Merry

if Official Bank Rate = 0.75% then GBP/USD go Up



That is not going to happen in a million years, well at least 5 quarters. It would be absolute suicide for Mad-Merve the Swerve to raise, they can be muppets but they are not total idiots.


Quoting Merry



if Asset Purchase Facility <= 225B then GBP/USD go Down

Any increase at this time on the back of last months numbers would be the action of a desperate currency manipulator and Merve is a lot, desperate he is not.

Both of these scenarios are the least likely ones to happen today and to be honest a facility of 225 would not see a massive drop in Cable at all just a kneejerk and a correction.
  • #263,259
  • Nov 4, 2010 6:57am Nov 4, 2010 6:57am
Quoting chazzle
candy from a baby,anyone?...before the news is even out

Well at least your 10 pips are making up for the 667 you lost last week, now you only have to be right 70 times in a row from here on to break even.


Maybe piping down a bit and going back to basics would do no harm in your trading and your misplaced exuberance would at least keep some of the other muppets here from making the same dire and absolutely unnecessary mistakes as you continue to show here with your posts.

Over 600 posts in a couple of weeks and each and every one has been rubbish, that surely must make you stand out from the crowd in some way at least.
  • #263,260
  • Nov 4, 2010 7:02am Nov 4, 2010 7:02am
Quoting cloggie
Well at least your 10 pips are making up for the 667 you lost last week, now you only have to be right 70 times in a row from here on to break even.


Maybe piping down a bit and going back to basics would do no harm in your trading and your misplaced exuberance would at least keep some of the other muppets here from making the same dire and absolutely unnecessary mistakes as you continue to show here with your posts.

stop beating around the bush, say what you really think..lol
ex member
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